II-VI (IIVI) Upgraded by B. Riley to Buy

B. Riley upgraded shares of II-VI (NASDAQ:IIVI) from a neutral rating to a buy rating in a report released on Tuesday, MarketBeat reports. The brokerage currently has $55.00 price target on the scientific and technical instruments company’s stock, up from their prior price target of $40.50. B. Riley also issued estimates for II-VI’s Q2 2019 earnings at $0.58 EPS, Q3 2019 earnings at $0.56 EPS, Q4 2019 earnings at $0.65 EPS, FY2019 earnings at $2.26 EPS, Q1 2020 earnings at $0.71 EPS, Q2 2020 earnings at $0.83 EPS and FY2020 earnings at $3.14 EPS.

Other research analysts have also issued reports about the company. BidaskClub upgraded II-VI from a hold rating to a buy rating in a research note on Wednesday, January 10th. Zacks Investment Research upgraded II-VI from a hold rating to a buy rating and set a $50.00 target price for the company in a research note on Tuesday. Piper Jaffray Companies began coverage on II-VI in a research note on Tuesday, February 13th. They issued an overweight rating and a $50.00 target price for the company. Craig Hallum cut their target price on II-VI to $53.00 and set a buy rating for the company in a research note on Friday, February 2nd. Finally, Northland Securities lowered II-VI from an outperform rating to a market perform rating in a research note on Monday, January 22nd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $53.67.

How to Become a New Pot Stock Millionaire

Shares of II-VI (NASDAQ IIVI) opened at $43.00 on Tuesday. II-VI has a 12-month low of $27.25 and a 12-month high of $53.08. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.01 and a quick ratio of 2.71. The firm has a market capitalization of $2,852.51, a P/E ratio of 32.58, a PEG ratio of 1.70 and a beta of 0.12.

II-VI (NASDAQ:IIVI) last posted its quarterly earnings data on Thursday, February 1st. The scientific and technical instruments company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. The company had revenue of $281.50 million during the quarter, compared to analysts’ expectations of $277.16 million. II-VI had a return on equity of 11.10% and a net margin of 8.08%. II-VI’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.49 earnings per share. sell-side analysts anticipate that II-VI will post 1.58 EPS for the current fiscal year.

In other II-VI news, CEO Vincent D. Mattera, Jr. sold 8,000 shares of the stock in a transaction on Tuesday, March 20th. The stock was sold at an average price of $47.34, for a total transaction of $378,720.00. Following the completion of the transaction, the chief executive officer now directly owns 260,335 shares in the company, valued at $12,324,258.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.80% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. First Commonwealth Financial Corp PA acquired a new position in II-VI during the fourth quarter worth $498,000. Pier Capital LLC acquired a new position in II-VI during the fourth quarter worth $6,063,000. MetLife Investment Advisors LLC acquired a new position in II-VI during the fourth quarter worth $1,259,000. Metropolitan Life Insurance Co. NY acquired a new position in II-VI during the fourth quarter worth $897,000. Finally, Macquarie Group Ltd. raised its stake in II-VI by 10.3% during the fourth quarter. Macquarie Group Ltd. now owns 803,299 shares of the scientific and technical instruments company’s stock worth $37,715,000 after acquiring an additional 75,052 shares in the last quarter. Hedge funds and other institutional investors own 89.06% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “II-VI (IIVI) Upgraded by B. Riley to Buy” was published by Ticker Report and is the property of of Ticker Report. If you are accessing this story on another website, it was illegally stolen and republished in violation of US & international copyright and trademark law. The correct version of this story can be read at https://www.tickerreport.com/banking-finance/3294679/ii-vi-iivi-upgraded-by-b-riley-to-buy.html.

II-VI Company Profile

II-VI Incorporated develops and manufactures engineered materials, optoelectronic components and products. The Company has three segments: II-VI Laser Solutions, II-VI Photonics and II-VI Performance Products. The II-VI Laser Solutions segment designs, manufactures and markets optical and electro-optical components and materials sold under the II-VI Infrared brand name and used in carbon dioxide (CO2) lasers, fiber-delivered beam delivery systems and processing tools and direct diode lasers for industrial lasers sold under the II-VI HIGHYAG and II-VI Laser Enterprise brand names.

Analyst Recommendations for II-VI (NASDAQ:IIVI)

Receive News & Ratings for II-VI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for II-VI and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Champion International Paper  Set to Announce Earnings on Thursday
Champion International Paper Set to Announce Earnings on Thursday
Starbucks  Scheduled to Post Quarterly Earnings on Thursday
Starbucks Scheduled to Post Quarterly Earnings on Thursday
Valley National Bank  Set to Announce Earnings on Thursday
Valley National Bank Set to Announce Earnings on Thursday
Piper Jaffray Comments on SRC Energy’s Q1 2018 Earnings
Piper Jaffray Comments on SRC Energy’s Q1 2018 Earnings
Brokers Issue Forecasts for BioTelemetry Inc’s Q1 2018 Earnings
Brokers Issue Forecasts for BioTelemetry Inc’s Q1 2018 Earnings
Total S.A.  Forecasted to Earn Q1 2018 Earnings of $1.05 Per Share
Total S.A. Forecasted to Earn Q1 2018 Earnings of $1.05 Per Share


© 2006-2018 Ticker Report. Google+.